European Commission President Jean-Claude Juncker said that Greece has “basically achieved” the objectives of the reforms required by its eurozone partners and international creditors. During an interview published in the German newspaper Funke Mediengruppe on Sunday, he said the time has come to “start the first discussions about how to make Greece’s debt sustainable in the long-term.”
“We are now at the time of the first review of the program and the objectives have been basically achieved,” he said.
The Eurogroup, comprised of 19 finance ministers of the member states of the eurozone, are meeting on Monday in Brussels to review Greek reforms. These reforms will need to be approved before Greek debt relief can be considered, however despite months of talks there is dissent between creditors from the European Union and the International Monetary Fund regarding the success that the reforms will have.
On Saturday, Greek Finance Minister Euclid Tsakalotos allegedly sent a letter to his eurozone partners to back Greece’s reform package of austerity worth 5.4 billion euros, putting aside calls for more cuts worth 3.6 billion euros.